Weekly Crypto Digest for August 14 - August 20, 2023.
Monday, August 21, 2023
Bitcoin falls below $26K, Coca-Cola launches NFT, Bitcoin ETF launched in Europe, and more news in the latest issue of the Weekly Crypto Digest by Yellow Capital.
Bitcoin falls below $26,000
During the week, the quotes of the first cryptocurrency fell below $26,000. Experts attributed this to Elon Musk's SpaceX bitcoin sale, the crisis of the Chinese developer Evergrande, and the sale of a major market participant.
All digital assets from the top 10 by capitalization ended the week in the red zone. Dogecoin (-16.1%) and XRP (-14.5%) lost the most.
The total capitalization of the cryptocurrency market is $1.1 trillion. The Bitcoin dominance index is 49%.
Coca-Cola launches NFT collection on Base network
The Coca-Cola Corporation has released a series of non-fungible tokens called “Masterpiece” on Coinbase’s Base layer Ethereum network.
The NFT collection is based on the firm's recent ad campaign, which was partially created using artificial intelligence.
Coca-Cola tokens combine the work of emerging artists and world art, including Edvard Munch's The Scream and Johannes Vermeer's Girl with a Pearl Earring.
Eight different NFTs are now available, ranging in price from 0.0011 ETH to 0.014 ETH, which are created through the mint.fun platform. Approximately 50,000 assets have been released at the time of writing.
First spot Bitcoin ETF launched in Europe
British company Jacobi Asset Management has launched Europe's first exchange-traded fund based on Bitcoin. The instrument was listed on Euronext Amsterdam under the ticker BCOIN.
The Guernsey Financial Services Commission regulates the product. The Jacobi FT Wilshire Bitcoin ETF is billed as “the first digital asset fund to comply with Article 8 of the SFDR through a decarbonization strategy.”
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Satoshi Era Bitcoin Wallet Moved 1005 BTC
On August 14, an unknown user moved 1005 BTC mined in 2010.
At the time of crediting to the original wallet, 13 years ago, the coins were worth $328. They are now valued at over $28.5 million.
Since these bitcoins were mined a year after the appearance of the first cryptocurrency, the community suggested that the address is associated with its anonymous creator Satoshi Nakamoto.
Chinese man sentenced to 9 months for buying 13,000 USDT
A Chinese citizen identified by authorities as "Mr. Chen" has been sentenced to nine months in prison for buying USDT worth 94,988 Chinese yuan (just over $13,000). Local media report this.
According to the prosecutor’s office, in February 2022, an acquaintance named Lin contacted Chen with a request to purchase stablecoins for him by transferring fiat to him for these purposes.
For his services, the defendant received 147.1 yuan ($20.26) in commission.
Chen will spend nine months in prison, suspended for a year. He must also pay a fine of 5,000 yuan ($689).
Binance shut down the Binance Connect platform
Cryptocurrency exchange Binance has closed its fiat-to-digital asset exchange platform Binance Connect (Bifinity). As a reason, Biswap pointed to the termination of support for payment cards by partners.
The service was launched in March 2022. It has connected companies, merchants, and consumers to the world of cryptocurrencies and blockchain technologies. The platform supported over 50 digital assets and popular payment methods and systems like Visa and Mastercard.
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